Your Right Price

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  • 7/26/2019 Your Right Price


    Your RightPRICE

    A one-chapter excerpt of Unveiling the Heart of Your Business.

    By Mark SilverFourth-generation entrepreneur

    and Su spiritual teacher

    Use Your BusinessHeartUse Your BusinessHeart
  • 7/26/2019 Your Right Price


    Your Right PriceA one-chapter excerpt from

    Unveiling the Heart of Your BusinessHow money, marketing and sales can deepen your heart,

    heal the world, and still add to your bottom line.

    Mark Silver

    BusinessHeart Press

    Portland, Oregon

  • 7/26/2019 Your Right Price


    Your Right PriceA one-chapter excerpt fromUnveiling the Heart of Your BusinessHow money, marketing and sales can deepen your heart, heal the world,and still add to your bottom line.A guidebook by Mark Silver.

    May the peace and love and mercy and justice of the Real be upon allof the holy prophets, guides, knowers, teachers, and each one of us and allof our hearts, so that we may become of the family of the Real.

    This book copyright 2005-2006, Mark Silver. All rights reserved.This book, or parts thereof, may not be reproduced in any form with-

    out permission from the author; exceptions are made for brief excerpts inpublic reviews, or copies made for personal use.

    Published by BusinessHeart PressMark Silver and Heart of Business

    4074 NE 7th Avenue, Portland, OR 97212 282-3037
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  • 7/26/2019 Your Right Price




    What is it about pricing that causes so many of us to stutter.We can talk about all many of condential and important

    issues with our clients, but when it comes to naming our

    price... gah.. gah...gah... our vocal cords seem to give out.

    Ive found that out of the many reasons for lost passion, and a strug-gling business, pricing is sometimes the simplest and most (or least) obvi-

    ous answer to the dilemma.One client I worked with had her pricing off by a mere $10 per client,but somehow clicking into that right price, suddenly she felt a renewedsense of energy and connection.

    Another client, overwhelmed and exhausted by her business, andtrying everything imaginable to make it work, suddenly found that byraising her price to the Right Price, as scared as she was when she rstthought about it, suddenly skyrocketed not only her protability per cli-

    ent- but MORE people wanted to work with her than before.Crazy, but pricing is an integral part of your relationship with yourclients.

    You want your price to not be too low, and not too high. What youneed is Your Right Price. The exercise in this chapter will help you getthat clarity.

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    In fairness, I want to let you know that this is just an excerpt from alarger work: Unveiling the Heart of Your Business. It was originally designedto stand-alone, and so should do that quite handsomely.

    Yet, it refers to an entire philosophy of approaching business that

    includes your heart. If you this chapter leaves you feeling inspired, Iencourage you to check out what the rest of the Guidebook is about:

    I hope you enjoy this workbook. And, if you do, please let me know.If you have any questions, comments or insights, contact me here:

    with love,Mark Silver
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    Chapter Twenty-Four: What is a Sale?Chapter Twenty-Five: The First Preparation Crafting Your Offer

    Chapter Twenty-Six: The Second Preparation FindingYour Right Price

    Chapter Twenty-Seven: The Third Preparation The Details, or,Singing Like Sinatra

    Chapter Twenty-Eight: The Sales Conversation ConnectionChapter Twenty-Nine: The Sales Conversation Questions

    Chapter Thirty: The Sales Conversation Agreement(Chapters that are bold are included here. The others are available in

    the Guidebook:

    Unveiling the Heart of Your Business

    Section Five

    Sacred SalesHow to make your selling effective, full of integrity,and from the heart.
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    Sacred Sales

    The Second Preparation:

    Finding Your Right Price

    Ihave rarely seen an issue that brings up so much confusion and anxi-ety among business people as proper pricing. Even though you loveyour product and service, you may feel insecure about how to price it.

    You worry that its too high, its too low, is the product or service valuedenough, what about the competition?

    You get to decide how to price your goods or services. It sounds likea simple task, but I know many people spend a lot of time worrying aboutsetting prices, wondering if they are right, or wanting to raise them, but

    theyre scared of losing customers. Sometimes people want to lower pricesbut they are afraid they would betray themselves or put themselves out ofbusiness.

    There are a lot of opinions out there about how to set prices. Peopletell you to analyze your competition, to do market research, includingdemographics, and needs assessments. You know what I say to all of that?Oy!

    Comparison doesnt make the decision any easier. However, for you

    in a small business, detailed comparison and analysis is rarely useful ornecessary. It issometimes useful to do research and market comparisonswith your competition.

    But chances are you already know the general ballpark prices foryour product or service. Does knowing the ballpark make the decisionany easier? Look at hairdressers, some charge $7 a cut, and others charge

    Chapter One

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    Your Right Price

    more than $100. If you are a hairdresser, how does this comparison helpyou set your own price?

    Research and comparison is not the answer. For the scale most of usare working on as entrepreneurs, if you listen to the truth in your heart,

    and not to the ights of your fears or your ego, you will land on the rightprice the resonant price.

    The key is that the price has to be authentic to you. Ive seen people,including myself, take some pretty hard falls by trying to price them-selves in nonauthentic ways. Without using your heart, market researchand comparisons can lead you to a nonauthentic price for yourself andtherein lies disaster.

    Authentic pricing is something we just know. Weve all had the ex-

    perience where we spent money that didnt feel good. We pay too muchfor something, and we feel like weve been taken advantage of, and weusually know it as were handing the money over. And weve also seenwhen prices are set too low and make us wonder Whats wrong here? Isthere something I dont know about?

    You have probably also bought a product or service when it just feltlike a great value. You felt what you bought was a great thing, and you felthappy giving the money to the seller.

    Let me give you an example:

    Case Study

    I had a client who was in a service business, teaching yoga andproviding individual healing/yoga instruction. She fought raisingher prices, scared that she would lose the clients she had.

    We went through the Your Right Price exercise in my seminar,which consists of going up the scale from lower than what she

    was charging currently, to very much higher than the top of hercomfort zone.

    She saw her price needed to go from $60 to $75. Everyone else inthe group, independently, also got that $75 was the price that feltthe best.

    Then she had a moment of truth. She realized that clients had re-cently tipped her $15 over her $60 asking price. $75 was what herclients resonated with as the right price. Her price was so muchunder what it should have been, that people were unconsciouslypaying her the right price. Up went her prices, no problem.

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    Sacred Sales

    Its not just about raising your prices. Prices can be too high as wellas too low.

    Case Study

    I worked in a company under another coach who mentored me.She gave me no control over my pricing coaching was a package;individual sessions with me, and a group coaching meeting thatshe facilitated. The problem was, her group package prices were abig jump for me, and I collapsed under them I was never able toenroll many people at that price, certainly not enough to make itas a business. Her price was not yet my resonant price.

    When I stopped working for her and went out on my own, Idropped my prices to my resonant price. My practice lled, and,before too long, my price went back up. But it went up from an au-thentic, resonant place, and my business has never suffered fromraising my prices.

    When doing an exercise like this one, its very important to rst and

    foremost listen to your own heart.The world is full of people who trustedtheir hearts, in the face of what all the experts said, and found successand happiness. The world is equally full of people who have listened to theex